A loan of $3,275 helped a member to ask for a loan to buy fuel to support her pump in order to water her field.


Mrs. Phalla Ken Village Bank Group's story

Twenty-four people who live in Pou village in the Takeo province have formed a village bank loan and they will use the loan for different purposes. Mrs. Phalla K. is the village bank president. She owns a small grocery store in the local village. Aside from this, she is a farmer who owns a 2-hectare field to cultivate rice. Since her rice farm is far from an irrigation system, she needs to use a pump machine to water her crop. Unfortunately, she does not have enough money to buy fuel to support her pump, so she decided to ask for a loan to buy it for the aforementioned purpose. Her husband, Mr. Yon Yen, helps her with both businesses. Mrs. Phalla K. has three children, two of whom are employed in different positions while the other is attending the local school. This is a village bank loan consisting of mainly end-of-term (EoT) loans. Fourteen members have end-of-term loans and the rest have monthly payment loans. Group members with EoT loans are not required to pay any principal on the loan until the very end of the loan term. End-of-term loans are AMK’s main product because they are the most beneficial to Cambodia’s poor. It allows them to repay portions of the principal whenever they are financially able to. Most clients start to make payments many months before the end of the loan term. Almost all of AMK’s clients make their payments on time. AMK has a delinquency rate of only 0.09% and AMK has a default rate of 0% on Kiva.

In this group: Phalla, Morn, Samuth, Siv, Sang, Phally, Chhim, Sarann, Chroeb, Sivorn, Seng, Oeurn, Rann, Sovann, Nhor, Sdoeung, Srey Mom, Vanny, Hann, Thou, Nouch, Savet*, Saream, Srey Neang
*not pictured



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